This website is a testimony to the problems Canadian Student Loan borrowers experienced from approximately 1996 to 2008 and until their loans were paid off.

The privatization of the Student Loans system by the Chretien and Martin Liberal governments broke the system and defaulted thousands of borrowers who were trying to pay their loans. There were even stories of suicide due to the harassment of borrowers.

Read the report that I prepared back in 2007 here. Canada Student Loans-The Need for Change Fortunately the new Conservative government at the time revamped the program and fixed the system for new borrowers, but borrowers under the previous program were left with ruined credit and continued harassment from debt collectors.

I call on the Canadian Government to apologize to the borrowers affected by this fiasco and make amends.

Unfortunately the Liberal government is again clobbering the Education system with their changes to International Student Visas. Yes, there's a problem, but instead of a well thought out plan, they have pulled the emergency brake on the train causing a derailment. This has introduced unprecedented instability for both private and public education institutions who serve both international and local students.

Universities have been forced to cancel programs and layoff hundreds if not thousands of full-time and contract instructors.

Again, the Liberal government has messed up the education environment.


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Jacksonsneed View Drop Down
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    Posted: 14/June/2012 at 9:03am
Hello,

I'm hoping someone may have some insight as to how to proceed.  

Two and a half years ago I moved to Germany to be with my partner.  Six months after my arrival I returned to Canada for one month to file bankruptcy on non-student loan debts.  I have just received a letter from ARC (Accounts Recovery Corporation) stating I need to contact them within the next two days to negotiate an out of court settlement, for the amount owing on my Scotia Bank student loans (I also have student loans with the government.)   

My understanding was that I had a two year grace period from the date I filed for bankruptcy before my debtors could contact me.  I have been in touch with my bankruptcy trustee and she has said that my loan is not dischargeable and that I should get in touch with them and start making payments in good faith.  

Currently I am employed as a freelancer and not bringing in a steady income.  The money I do make will drop drastically in the coming months as I am expecting my first child at the end of the year.  I am married, but my husband does not make a lot of money, and I would rather keep him out of this.    

My concerns are, can they demand I disclose my husband's salary?  
Are they allowed to contact me before the 2 and 1/2 year period is up?  
How do I negotiate a more manageable repayment schedule (say $100 a month)?  
Should I try to deal with the Bank of Nova Scotia only, or should I negotiate with ARC?
Do the laws against collection agency harassment apply if the debtee is outside of Canada?

Thank you. 
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